the quantity of GHG emissions that have been reduced or removed thanks to an offset or transfer project. In quantitative terms it is the difference between the emissions occurring in the baseline scenario (if nothing has happened), and the emissions that occur as a result of an offset project.

countries (included in AnnexB to the Kyoto Protocol) agreeing to a target for their greenhouse gas emissions. It includes all Annex I countries (as amended in 1998) except for Turkey and Belarus.

countries committing themselves specifically to the aim of returning individually or jointly to their 1990 levels of GHG emissions by the year 2012.

resulting from or produced by human beings.

 the simultaneous purchase and sale of an asset in order to profit from price differences on different markets or in different forms.

a permit-type token representing the right to emit one tonne of carbon dioxide equivalence (CO2e). AAUs are issued to nations, which are signatories to the Kyoto Protocol listed in AnnexB. They are issued in accordance with Article 3 of the protocol.

 tests which aim to show that the CDM breaks down barriers (such as a project not being financially viable) that would otherwise halt implementation of an offset project.

 GHG emissions from activities that would have occurred in the absence of offsetting or transfer policies or projects. Not to be confused with business-as-usual.

 a broker who also acts as a buyer or seller to transactions and thus becomes a principal party to a deal. In the over the counter derivatives segment, broker-dealers usually act as counterparty to end customers. 

 GHG emissions which would occur without any climate change specific regulations.